Vertex Pharmaceuticals Incorporated $VRTX Shares Sold by Associated Banc Corp

Associated Banc Corp cut its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 7.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,583 shares of the pharmaceutical company’s stock after selling 580 shares during the period. Associated Banc Corp’s holdings in Vertex Pharmaceuticals were worth $3,376,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its holdings in shares of Vertex Pharmaceuticals by 72.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,917,227 shares of the pharmaceutical company’s stock worth $1,414,331,000 after acquiring an additional 1,226,527 shares during the last quarter. Jennison Associates LLC increased its stake in shares of Vertex Pharmaceuticals by 21.5% in the second quarter. Jennison Associates LLC now owns 6,151,505 shares of the pharmaceutical company’s stock worth $2,738,650,000 after acquiring an additional 1,089,063 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Vertex Pharmaceuticals during the 1st quarter worth about $484,053,000. Vanguard Group Inc. lifted its stake in Vertex Pharmaceuticals by 2.1% in the second quarter. Vanguard Group Inc. now owns 23,973,777 shares of the pharmaceutical company’s stock valued at $10,673,126,000 after acquiring an additional 482,616 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Vertex Pharmaceuticals by 28.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,775,194 shares of the pharmaceutical company’s stock worth $860,650,000 after purchasing an additional 398,460 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Trading Up 1.4%

Shares of Vertex Pharmaceuticals stock opened at $429.82 on Wednesday. Vertex Pharmaceuticals Incorporated has a 1 year low of $362.50 and a 1 year high of $519.68. The company’s fifty day simple moving average is $412.78 and its 200-day simple moving average is $424.99. The company has a market cap of $109.05 billion, a price-to-earnings ratio of 30.72 and a beta of 0.36.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, November 3rd. The pharmaceutical company reported $4.80 EPS for the quarter, beating the consensus estimate of $4.58 by $0.22. The firm had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.05 billion. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company earned $4.38 EPS. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Scotiabank started coverage on Vertex Pharmaceuticals in a research note on Thursday, November 13th. They issued a “sector outperform” rating and a $495.00 price objective on the stock. Raymond James Financial assumed coverage on Vertex Pharmaceuticals in a report on Tuesday, September 2nd. They set a “market perform” rating on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Vertex Pharmaceuticals in a research note on Wednesday, October 8th. UBS Group decreased their price objective on shares of Vertex Pharmaceuticals from $553.00 to $546.00 and set a “buy” rating for the company in a report on Friday, November 7th. Finally, Leerink Partnrs upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 25th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $491.95.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, Chairman Jeffrey M. Leiden sold 53,604 shares of the stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $440.72, for a total value of $23,624,354.88. Following the completion of the sale, the chairman owned 24,026 shares in the company, valued at approximately $10,588,738.72. This trade represents a 69.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Profile

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for 2 years of age or older; SYMDEKO/SYMKEVI for people with CF for 6 years of age or older; ORKAMBI for CF patients 1 year or older; and KALYDECO for the treatment of patients with 1 year or older who have CF with ivacaftor.